Reply to Generational wealth. What's behind the obsession?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Because working sucks for the vast majority of people so why would anyone want to force their family into working if they don't have to?

Is this a serious question? Is there really anyone out there so stupid they can't figure out this incredibly obvious answer?[/quote]

Working a 9-5 job where you have little agency sucks...but the vast majority of even very wealthy children work.  Very few just spend their lives as Philanthropists or Social Media Influencers or other "fake" jobs that they tell people at cocktail parties.

Now, they may run the family business or have some other job where they basically have complete agency over their lives.

Bill Gates' daughter is a physician working in a hospital.  Supposedly, Gates will only leave his kids $10MM each (not sure if he is still abiding by that).

[/quote]

Well, idk what is in her inheritance but the daughter who is a doctor spends multiple millions a year on horses. And has for a long time. Maybe it's her mom, I don't know and I don't care, but I can't imagine it's "spend millions on horses every year until I die" and then what, it all gets auctioned?[/quote]

She's married to someone in the same stratosphere as her financially--he's also into horses.

But fact is she's accomplished a lot being a doctor, and you don't get there without being smart and qualified [/quote]

I think he's just regular rich. He's on much better horses now thanks to her. I agree that she's very accomplished, I just think that thing about Bill Gates not leaving money to his kids is something he said once a long time ago and I don't know if he changed his mind or it's her mom, but she's not living on her doctor money. [/quote]

Maybe…but the larger point is she isn’t sitting on her ass never working or just working some low pay lifestyle job like others are proposing for their kids either vastly smaller fortunes.

They did a study of Harvard grads and the kids going into high paying jobs came from the wealthiest families for the most part…maybe this was from family connections, but again, they weren’t going to work for NPOs and what not.

In fact, the poorest kids had the highest %age deciding to get PhDs or work at NPOs because their entire 4 years were free so they didn’t have student loans to worry about paying post-grad.[/quote]

Well, as far as being a doctor or going into a "high paying job," no one gets bill gates rich from that. CEOs can get pretty rich without founding, but only a handful of them. [/quote]

Key point is most rich kids don't just sit around and do nothing.  They actually could live extremely nice lifestyles with what they do.  
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